Senior Financial Analyst / Supplemental / UMMS @ Baltimore

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Job ID: 59754
Area of Interest: Professionals
Location: Baltimore, MD US
Hours of Work: M-F BUT for 18-24 Months
Job Facility: University of Maryland Medical System
Employment Type: Supplemental/Per Diem
Shift: DAY
What You Will Do:

Under limited supervision the Senior Financial Analyst develops, analyzes, reports and interprets financial and statistical information to assist management in the formation, implementation and execution of the organization’s business plans. Provides analytical and technical support regarding, volume and revenue analysis, budgeting analysis, financial planning analysis, and regulatory policies and procedures. Works collaboratively with department mangers and senior management to implement recommendations. Coordinates and/or oversees the daily work activities of financial analysts.

Bachelor’s degree in Finance, Accounting or a related field OR an equivalent combination of education and experience REQUIRED and 3 years of progressively responsible financial planning, financial analysis, budgeting, reimbursement or accounting experience.

                                             THIS IS A SUPPLEMENTAL POSITION
                                        THAT WILL BE FUNDED FOR 18 - 24 MONTHS 
                                     BUT COULD BE EXTENDED BEYOND THAT TIME

Principal Responsibilities and Tasks

The following statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all job duties performed by personnel so classified.

1. Develop work plans and coordinate the successful completion of routine and ad hoc reports, analyses and projects.

2. Prepares various reports, surveys and special projects as requested by senior management or for miscellaneous requesting agencies in accordance with departmental procedures. Reviews transactions from various reports and prepare summary reports for reporting organizational activity by the appropriate UMMS department in accordance with departmental procedures.

3. Develops and implements procedures to perform tasks required by internal management or outside regulatory agencies.

4. Represents the finance department staff on standing and ad hoc committee dealing with financial planning, reimbursement and budgeting issues in accordance with department procedures. Presents relevant financial data and serves as a financial resource to the departments, senior management and physician groups.

5. Responsible for organizing and maintaining major reports and schedules containing complex data from multiple sources.

6. Trains operations managers and administrative staff on reading reports and interpreting financial data.


Specialization in Financial Planning

1. Performs development of long-term financial forecasts that incorporate the changes in patient service activity, the reimbursement environment, payor mix, operating costs, capital financing structure and overall capital requirements.

2. Performs complex financial evaluations of new programs/ventures, including assessment of volume, reimbursement, payor mix, operating costs, working capital needs, capital requirements and the financial structure in accordance with departmental policies and procedures.

3. Analyzes case mix data, e.g. payor information, hospital charges, diagnoses, and medical/surgical procedures used and other applicable data, which is used to provide support for conclusions drawn regarding such programs, and also to maximize reimbursement opportunities as well as maintain regulatory compliance.

4. Prepares computer generated analyses in support of these programs/ventures for review and approval by senior management staff

5. Maintains the Medical System’s strategic capital plan and determines how these capital issues will affect the long-range financial forecast. Produces regular updates of this document for internal use.

Specialization in Business Development Operations Support

1. Prepares and/or validates assumptions, complex calculations, schedules and other documentation in developing the organization’s annual capital and operating budgets in accordance with generally accepted accounting principles (GAAP) and departmental procedures.

2. Analyzes financial and statistical reports to ascertain trends and to isolate deviations from established plans in accordance with GAAP and report such data to management.

3. Compiles financial and statistical reports of a specific nature in accordance with departmental procedures. This includes preparing monthly financial statements and other regular management reports, analyzing nominal accounts to determine the adequacy of presentations based upon accruals, calculation, estimates and general provisions.

4. Monitors and investigates transactions. Reviews and verifies transactions to confirm authorization, conformity with the capital or operating budget, compliance with expenditure management policy, and the adequacy of coding to support accounting systems and management reports in accordance with departmental procedures.

5. Communicates with various departments in order to resolve various budget-related financial problems and procedures. Reviews with cost center managers, on a routine basis, the financial reports for their areas. Assists manager/analyst in understanding variances from budget and assists in documenting new issues that impact the current and future budget development.

6. Responsible for implementing continuous education process for departments which will teach the importance of charge capture and advise departments of effective procedures for completing the charge capture function.

Specialization in Reimbursement & Clinical Economics

1. Works collaboratively with departments within and outside of Finance to ensure compliance with all regulatory submissions and requirements. Serves as UMMS Case Mix liaison for assigned hospitals.

2. Prepares and submits various reports and data submissions to external agencies, including HSCRC abstract data tapes, HSCRC tape reconciliations, hospital surveys, and other as required. Ensures complete and accurate data capture in compliance with published regulations and deadlines for assigned hospitals.

3. Prepares and distributes routine internal reports for monthly financial processes to ensure accurate revenue booking and compliance. These reports include, but are not limited to, financial statement revenue analytical packages, case mix analytical packages, audit impact accruals, and trim/exclusion reports.

4. Prepares and distributes routine internal reports for revenue maximization initiatives to include, but not limited to, reimbursement strategies, case mix audits, clinical documentation reviews, and quality-based reimbursement programs.

5. Analyzes, researches, and reports variances in data integrity, case mix, and quality performance. Coordinates resolution of issues and identifies opportunity for improvement for assigned hospitals.

6. Participates in developing, enhancing, and maintaining standard processes, databases, and reports, in conjunction with management, to support accurate, consistent, efficient, and quality service to internal and external customers.

7. Coordinates and prepares System level summary reports, ad hoc reports, and special projects, as requested.

8. Assists in training staff on standards and new practices, and otherwise promotes staff professional development. Communicates and enforces standards of performance and productivity

Employee Benefits

As a UMMS employee, you will enjoy a comprehensive benefits program designed with you and your dependents in mind. Subject to any eligibility waiting period, all of the benefits are available to regular full-time employees and most benefits are available to regular part-time employees who are regularly scheduled to work twenty (20) or more hours per week. Many benefits are provided at no cost to employees. For others, the cost is shared between UMMS and employees.

What You Need to Be Successful:

1. Bachelor’s degree in Finance, Accounting or a related field is required or an equivalent combination of education and experience is required. MBA or Master’s degree in Finance is preferred.

2. Three years of progressively responsible financial planning, financial analysis, budgeting, reimbursement or accounting experience.

3. Healthcare-related finance background is preferred.

Knowledge, Skills and Abilities

1. Knowledge of Medicare and HSCRC regulations is required.

2. Ability to supervise, monitor daily work activities, trains, motivates and evaluates the performance of staff. Ability to judge the level of confidentiality of information / activities involved in and exhibit integrity in use of dissemination of such information.

3. Keeps up-to-date with the developments/changes in the field and applicable regulations and procedures affecting hospital finance and regulatory practices.

4. Expert knowledge of spreadsheets (i.e., Microsoft Excel), databases (i.e., Microsoft Access), word processing programs (i.e., Microsoft Word), graphic/specialty and other finance-related software programs. Ability to teach others and act as a department resource of expertise.

5. Highly effective verbal and written communication skills are necessary in dealing with a variety of healthcare and finance professionals including senior management staff.

6. Ability to develop and evaluate complex financial data via use of computer analysis, requiring attention to detail and the ability to interpret and validate complex data.

7. Excellent organization and problem-solving skills and team leadership skills are required to develop and implement efficient work processes. Ability to work in a stressful environment.

8. Ability to work effectively in a matrix work environment.

9. Ability to attend and participates in in-service training and various educational programs for continuous professional development. 

We are an Equal Opportunity/Affirmative Action employer.  All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected veteran status, age, or any other characteristic protected by law. 
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